Obviously it would be disappointing if the customer didn't pay up the money owed but I can't help thinking that at least the product that was sold has not been lost. It is still there, in the ground and possibly worth more now than it was a year ago! Most bad debts result in the product already being delivered/used so it is worth less and hard to recover. This is not the case with the Sandalwood. In addition to this what happens to the amount the customer has already paid? Is the deposit then kept by TFS? That could be millions!
If as TFS say that demand from institutions is increasing surely they can sell that block of plantation to another institution in the near future and just get on with it.
TFC Price at posting:
80.3¢ Sentiment: Hold Disclosure: Held
